Dynamic Effects of Exchange Rate on Trade Balance of U.S. Grain and Horticulture: Averaging or Pooling ?

• 영문명: Dynamic Effects of Exchange Rate on Trade Balance of U.S. Grain and Horticulture: Averaging or Pooling ?
• 발행기관: 한국농식품정책학회
• 저자명: DaeHeum Kwon
• 간행물 정보: 『한국농식품정책학회 학술대회 논문집』2010년 동계학술대회 논문집, 1~22쪽, 전체 22쪽
• 주제분류: 농수해양 > 식품과학
• 파일형태: PDF
• 발행일자: 2010.12.31

영문 초록

This study investigates the effects of exchange rate on the trade balance of grain and horticulture products. To address methodological issue in traditional aggregation and recent disaggregation methods across countries, the mean group (MG) and pooled mean group (PMG) estimators are utilized. Results based on combination of pooling and averaging suggest that (i) the grain trade is more sensitive than the horticulture trade to the exchange rate movement in the long-run; and (ii) the J-curve phenomenon may exist in the grain trade, while such a possibility is very low in the horticulture trade.

목차

Abstract

Introduction

Theoretical Considerations

Empirical Models and Methods

Empirical Results

Concluding Remarks

References